Luton-based Kinder City nursery & pre-school, has secured a £450,000 commercial mortgage from Allica Bank which has allowed them to buy their existing building, ensuring their presence for the foreseeable future.
Kinder City, operational since 2015, is a family-managed childcare service with a ‘Good’ Ofsted rating. It employs 21 staff who look after children up to the age of 5.
The facility, which comprises indoor and outdoor play areas, a rest room, spacious playrooms and a kitchen with a 5-star hygiene rating, has been leasing a repurposed church building located close to Luton train station.
Earlier this year, when the landlord chose to sell the building, Ovais Ahmed, the owner of the nursery, saw it as a chance to strengthen the business’s position.
Ahmed said: “By owning our premises, we can have a much stronger incentive to develop it for the kids, parents and staff. For one, we’ll be looking at spending over £20,000 on our outdoor space. It’s fantastic, too, to be able to commit our future to this location and the many families and staff in the area.”
Upon reaching out to Allica Bank for financial support, Ahmed received an offer for the commercial mortgage within four days. He added: “As a founder and director I feel I have a renewed energy for my business. With this new-found autonomy I can really be innovative and creative in enhancing and tailoring every aspect of this building.”
Wahid Nawaz, relationship manager at Allica Bank who covers areas including Luton, said: “Kinder City is a fantastic Luton business and community asset for many mums, dads and kids in the area. It’s clear what an important opportunity it was for them to take.
“I’m so pleased we’ve been able to support Ovais and Kinder City as they take that next step in their journey, and I’m looking forward to working with Ovais and seeing Kinder City go from strength to strength in the years ahead.”
